COLCHESTER, Vt. (AP) - Developers seeking to run a 60-mile power line under the waters of Lake Champlain have notified affected towns that they plan to file with Vermont regulators to build the project.

Vermont Public Radio reports (http://bit.ly/1UFQzBC ) the 400-megawatt power line, dubbed the Vermont Green Line Project by developers National Grid and Anbaric Transmission, will span from northern New York to New Haven, Vermont.

The power will come from both hydro and wind plants for use by southern New England utilities. Officials say the project will be able to power 240,000 homes during peak demand.

The underwater electric transmission cable will exit Lake Champlain in Ferrisburgh and then travel through the town of Waltham.

New Haven officials have reached an agreement with the developers on direct payments to the town.